Prices for shredded and HMS grades of steel scrap imported in containers into India soared upward this week, with the country's domestic finished steel markets enjoying a strong start to the year.Metal Bulletin's index for Indian imported shredded scrap rose to $374.09 per tonne cfr Nhava Sheva on Friday January 5, up by $22.61 per tonne from the $351.48 per tonne cfr recorded on December 22.The l...Read More
The UK inter-merchant price range for austenitic alloy steel scrap rose by ?50-60 per tonne this week on higher nickel prices when the market returned from seasonal holidays, sources said on Friday January 5.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-980 ($1,286-1,326) per tonne delivered on Friday, compared with ?900-920 per tonne on Decemb...Read More
The lack of buying activity at the beginning of the year has created mixed expectations about which direction global steel slab prices will take in January.Some market participants were bearish, suggesting that a splash of buying activity will be short-lived, at least in Asia, amid generally sluggish demand for finished flat steel in the region as well as the approaching Lunar New Year holiday.Bes...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices started 2018 on a rise, gaining further ground on Friday January 5 to $76.80 per tonne cfr Qingdao despite the Chinese steel market retreating again.There was barely any movement in the seaborne coking coal market amid a lack of indicative and firm bids, with buyers still trying to figur...Read More
China's domestic rebar prices continued to tumble on Friday January 5 amid weak demand. Domestic Eastern China (Shanghai): 3,950-4,000 yuan ($608-615) per tonne, down 120-130 yuan per tonneNorthern China (Beijing): 3,950-4,000 yuan per tonne, down 30-50 yuan per tonneTrading activity was very during the day due to bad weather, market sources said. Various parts of China have been experiencing low...Read More
European stainless steel base prices have remained unchanged over the past week, with market activity quiet early in 2018, sources told Metal Bulletin on Friday January 5.Metal Bulletin's weekly base price assessment for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,130 ($1,277-1,361) per tonne delivered in Northern Europe on Friday."The market is still very quiet, with many countries sti...Read More
China's domestic stainless steel prices rebounded slightly over the past week on gains in the nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,200-15,500 yuan ($2,339-2,385) per tonne including VAT for the week ended Thursday January 4, narrowing upward from 15,000-15,500 yuan per tonne a week earlier. Market partic...Read More
Automobile production in Argentina edged down by 0.1% year on year in 2017.Car output came to 472,158 units last year, down from 472,776 units in 2016, according to figures released by national auto association Adefa on Thursday January 4. Sales to the domestic...Read More
Car production in Brazil grew by 25.2% year on year in 2017, mainly led by record exports, according to figures released by national automobile association Anfavea on Friday January 5.Output totaled 2.7 million units, against 2.16 million vehicles in 2016.Brazilian car exports hit an annual record in 2017, at 762,033 units, up by 46.5% from 2016's level of 520,137...Read More
Steel exports from the Middle East, CIS and India are expected to be the main price setters in Asia in 2018, as production cuts in China over most of the first quarter leave a gaping hole for them to continue to wrestle their way in.Steelmakers in India, Turkey and the Middle East will likely find it easier to raise their offers this year due to Chinese steel products losing their competitiveness,...Read More
Domestic flat steel prices in Argentina increased for the second consecutive month in January.Metal Bulletin's monthly price assessment of Argentina's domestic hot-rolled coil (HRC) reached $720-735 per tonne ex-works on Friday January 5, compared with $705-725 per tonne ex-works in the previous month.Prices for cold-rolled coil (CRC) rose to $840-845, from $825-835, and hot-dipped galvanized coil...Read More
Scarce supply in global scrap markets pushed up import prices to both India and Taiwan in the working week from Monday January 1 to Friday January 5, while market activity has remained low in the bellwether Turkish market.Turkey importsNo deals were concluded by Turkish mills for imported bulk scrap cargoes during the week, with many suppliers still on holiday until next week.Turkish steel mills w...Read More
Prices for shredded and HMS grades of steel scrap imported in containers into India soared upward this week, with the country's domestic finished steel markets enjoying a strong start to the year.Metal Bulletin's index for Indian imported shredded scrap rose to $374.09 per tonne cfr Nhava Sheva on Friday January 5, up by $22.61 per tonne from the $351.48 per tonne cfr recorded on December 22.The l...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More
The latest metal markets news and price moves to start the North American day on Friday January 5.Base metals prices on the London Metal Exchange mostly stepped slightly lower during morning trading but are generally consolidating at higher levels.Aluminium fell $12.50 but is still in a strong position, with supply-side reforms in China continuing to burnish its underlying fundamentals. The three-...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Friday January 5. SHFE copper prices retreated in Asian morning trading on Friday January 5 after surging in the previous afternoon's session, as the market awaits US payroll numbers due out tonight.Check Metal Bulletin's live futures report here. LME snapshot at 0232 London timeLatest 3M LME Pric...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metals Two trading companies have accepted Nornickel's $300 per tonne nickel premium for 2018, while the majority of Nornickel's long-term contract premium negotiations cif China are still in the air. Striking workers at Empresa Nacional de Mineria's (Enami's) copper smelter in Chile...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices started 2018 on a rise, gaining further ground on Friday January 5 to $76.80 per tonne cfr Qingdao despite the Chinese steel market retreating again.There was barely any movement in the seaborne coking coal market amid a lack of indicative and firm bids, with buyers still trying to figur...Read More
Steel exports from the Middle East, CIS and India are expected to be the main price setters in Asia in 2018, as production cuts in China over most of the first quarter leave a gaping hole for them to continue to wrestle their way in.Steelmakers in India, Turkey and the Middle East will likely find it easier to raise their offers this year due to Chinese steel products losing their competitiveness,...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More